Dropbox (NASDAQ:DBX) CFO Sells $42,930.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 1,500 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $28.62, for a total value of $42,930.00. Following the sale, the chief financial officer directly owned 470,121 shares in the company, valued at $13,454,863.02. The trade was a 0.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Timothy Regan also recently made the following trade(s):

• On Wednesday, October 1st, Timothy Regan sold 5,000 shares of Dropbox stock. The stock was sold at an average price of $29.76, for a total value of $148,800.00.
• On Tuesday, September 30th, Timothy Regan sold 1,500 shares of Dropbox stock. The stock was sold at an average price of $30.71, for a total value of $46,065.00.
• On Friday, August 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $27.95, for a total value of $69,875.00.
• On Tuesday, July 29th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $27.98, for a total value of $69,950.00.

Dropbox Stock Performance

Shares of DBX opened at $29.10 on Monday. The firm has a market cap of $7.85 billion, a P/E ratio of 17.74, a PEG ratio of 3.83 and a beta of 0.67. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The firm’s 50 day moving average price is $29.49 and its two-hundred day moving average price is $28.50.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $625.70 million for the quarter, compared to analyst estimates of $618.60 million. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.60 earnings per share. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DBX shares. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group cut shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $29.67.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DBX. Neo Ivy Capital Management acquired a new stake in shares of Dropbox in the 2nd quarter valued at approximately $30,000. Elequin Capital LP increased its holdings in Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after buying an additional 469 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after acquiring an additional 558 shares in the last quarter. Brooklyn Investment Group lifted its stake in Dropbox by 250.3% in the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock valued at $37,000 after acquiring an additional 991 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Dropbox in the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.